XIAOMI'S STOCK ROSE 10% AFTER A USA COURT PREVENTS TRUMP’S BAN



This morning, the Hong Kong stock market opened, and Xiaomi Corporation rose 8.79%. As of this time, Xiaomi Corp. rose by 10.55%, while its stock price hit 25.15 HKD ($3.24). Moreover, its market value also rose to 63.814 billion HKD ($8.2 billion).

Earlier this week, Washington District Judge, Rudolph Contreras, has halted the Department of Defense from limiting U.S. investments in Chinese smartphone manufacturer Xiaomi.



The next day, Xiaomi asserted in an announcement that the electronic products manufactured by the company are for ordinary consumers. The addition of Xiaomi to the list of Chinese military-related industries was a dogmatic decision. The U.S. judge also agrees with Xiaomi’s belief on this. Xiaomi will continue to ask the court to ultimately rule that the decree is illogical for Xiaomi.

Xiaomi went public on July 9, 2018. At that time, Xiaomi’s Hong Kong IPO price was fixed at 17 HKD ($2.19) per share. At the time, the company’s net fund also hit 23.975 billion HKD ($3.1 billion).

XIAOMI WINS A COURT RULING CONCERNING USA CONSTRAINTS ON IT



Last week, a federal judge in Washington has halted the Department of Defense from limiting U.S. investments in Chinese smartphone manufacturer Xiaomi. That’s why American investors held the right to buy Xiaomi stocks.

In the last days of Donald Trump’s administration, the Department of Defense placed Xiaomi on a list of companies supposedly linked to the Chinese military, beginning to financial constraints that were to come into effect later. But yesterday, US District Judge Rudolph Contreras supported Xiaomi, which said the move to removed the company of its due process rights.

Contreras said Xiaomi will be expected to win the case in the end and declared an initial order to prevent “irreparable harm” from being caused to the company. Xiaomi has said it plans to continue to demand that the court declare illegal the company’s fraudulent relationship with the Chinese military.

In November, former US President Donald Trump signed an order banning US investment in Chinese firms held or controlled by the military in an effort to pressure Beijing. The US has also inflicted bans on popular Chinese apps like WeChat and TikTok, mentioning threats to national security.

US District Judge Rudolph Contreras stated: ” The court is somewhat skeptical that serious national security interests are actually involved”.


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